Loans

HFF Provides $62.5M Refinancing for Irvine Crossings Industrial Property

by Nellie Day September 14, 2016

IRVINE, CALIF. — HFF has provided $62.5 million in refinancing for Irvine Crossings, a 395,673-square-foot data center and industrial asset. The property is located at 17871 Von Karman Ave. and 17836 Gillette Ave. in Irvine. The fully leased building was renovated in 2000. It was partially converted to a powered-shell data center in 2013. A data center operator and an internet technology company occupy the property. The asset is situated one block north of the intersection of Von Karman Avenue and Main Street in the Airport Area. There are six other data centers in the area. The five-year, full-term, interest-only loan features a fixed rate. HFF’s Kevin MacKenzie and Jamie Kline arranged the loan on behalf of Menlo Equities. Deutsche Bank provided the capital.

September 14, 2016

Loans Multifamily Northeast Pennsylvania Seniors Housing

CBRE Arranges Sale, Financing of Assisted Living/Memory Care Community in Suburban Philadelphia

by Amy Works September 13, 2016

NORTH WALES, PA. — CBRE Capital Markets has arranged the sale and acquisition financing of The Solana Horsham, a 76-unit assisted living and memory care community in North Wales. A joint venture between Capitol Seniors Housing and Formation-Shelbourne Partners sold the property to an undisclosed buyer for $31.5 million, or $414,474 per unit. Located at 1419 Horsham Road, the property was 95 percent occupied at the time of closing. Lisa Widmier and Matthew Whitlock of CBRE’s San Diego office represented the seller. Additionally, CBRE originated the five-year, non-recourse floating-rate acquisition loan, which features three years of interest-only payments, for an undisclosed amount for the buyer. Aaron Will of CBRE’s Houston office secured the loan for the borrower.

September 13, 2016

Georgia Industrial Loans Southeast

NorthMarq Capital Arranges $27.8M Acquisition Loan for 2 MSF Distribution Center in Metro Atlanta

by John Nelson September 12, 2016

NEWNAN, GA. — NorthMarq Capital has arranged a $27.8 million acquisition loan for a 2 million-square-foot distribution center located in Newnan, roughly 20 miles south of Hartsfield-Jackson Atlanta International Airport. The property was built, owned and occupied by Kmart for more than 30 years. Keith Braddish of NorthMarq Capital’s New York City office and Will James of the firm’s Atlanta office arranged the three-year loan through Ladder Capital on behalf of the undisclosed buyer.

September 12, 2016

Loans Multifamily Southeast Tennessee

Dougherty Mortgage Closes $21.2M Fannie Mae Loan for Apartment Community in Chattanooga

by John Nelson September 12, 2016

CHATTANOOGA, TENN. — Dougherty Mortgage has arranged a $21.2 million Fannie Mae loan for the acquisition of The District at Hamilton, a 300-unit, market-rate apartment complex located in Chattanooga. The gated, pet-friendly property features a swimming pool, sundeck, grilling area, business center, athletic center and two lighted tennis courts. The interiors include Whirlpool appliances, window coverings, decks or sunrooms and built-in microwaves. Dougherty Mortgage’s Nashville office arranged the 15-year loan with a 30-year amortization schedule on behalf of the borrowers, Calhoun Shores LLC, Fremount House LLP and Hamilton Place CAG LLC.

September 12, 2016

Industrial Loans New York Northeast Office Retail

HFF Secures $26.9M in Financing for Property Acquisition, Conversion in Brooklyn

by Amy Works September 12, 2016

NEW YORK CITY — HFF has arranged $26.9 million in acquisition and construction financing for 314 Scholes Street, a three-building industrial complex located in Brooklyn’s Williamsburg neighborhood. HFF arranged the five-year, floating-rate loan through M&T Bank for the borrower, The Hudson Companies. The borrower plans to convert the 97,475-square-foot complex into 83,211 square feet of creative office space and 14,543 square feet of retail space. Designed by S9 Architects, the project is slated for completion in 2018. Christopher Peck and Rory Shepard of HFF secured the financing for the borrower.

September 12, 2016

Illinois Loans Midwest Multifamily Seniors Housing

Capital One Provides FHA Loans Totaling $10.3M to Refinance Two Illinois Skilled Nursing Facilities

by Amy Works September 12, 2016

ANNA AND CARBONDALE, ILL. — Capital One has provided two fixed-rate, HUD 232/223(f) loans totaling $10.3 million to refinance two skilled nursing facilities in Anna and Carbondale. Joshua Rose of Capital One originated the transaction for the borrower, a skilled nursing specialist with a portfolio of properties in Illinois and Indiana. The 70-bed facility, built in 1974, in Anna received a $5.9 million loan, while the 131-bed facility in Carbondale, which was built in 1965, received $4.4 million in financing.

September 12, 2016

Loans New York Northeast Office Retail

Cushman & Wakefield Arranges $185M in Financing for 10 Times Square in NYC

by Amy Works September 9, 2016

NEW YORK CITY — Cushman & Wakefield advised L.H. Charney Associates Inc. on a $185 million senior mortgage financing for 10 Times Square, also known at 1441 Broadway, in New York City. The fixed-rate financing was provided by an affiliate of Metropolitan Life Insurance Co. The 36-story building features more than 540,000 square feet of office/showroom and retail space, including 31 floors of fully-leased office/showroom space and 55,000 square feet of ground-floor, concourse and second/mezzanine-level retail space. The building’s newly designed retail space and lobby will be delivered in 2017. Alex Hernandez, Steve Kohn, Chris Moyer and Alex Lapidus of Cushman & Wakefield’s Equity, Debt and Finance team arranged the the financing.

September 9, 2016

Affordable Housing Florida Loans Multifamily Southeast

KeyBank Arranges $39.9M Fannie Mae Facility to Harmony Housing for Affordable Housing Portfolio

by John Nelson September 9, 2016

CLEVELAND — KeyBank has structured and arranged a $39.9 million Fannie Mae master credit facility for Harmony Housing, a 501(c)(3) nonprofit that focuses on preserving affordable housing rental properties. Harmony Housing will use the facility for a five-property affordable housing portfolio in Florida and Wisconsin. The properties include Centre Court Apartments in Bradenton, Fla.; Villas at Cove Crossing in Lantana, Fla.; The Overlook at Monroe in Sanford, Fla.; Foxbrook Senior Apartments in Brookfield, Wis.; and Prairie Ridge Senior Apartments in Pleasant Prairie, Wis. The facility structure allows Harmony Housing to add properties to the facility, accounting for future acquisitions, and to refinance assets in its existing portfolio.

September 9, 2016

Hawaii Loans Retail Western

Sonnenblick-Eichner Co. Secures $59M Refinancing for Pearl City Gateway in Hawaii

by Nellie Day September 8, 2016

PEARL CITY, HAWAII — Sonnenblick-Eichner Co. has secured a $59 million in first mortgage debt to refinance Pearl City Gateway, a 146,205-square-foot shopping center located roughly 12 miles outside of Honolulu in Pearl City. The 10-year, fixed-rate financing was secured on behalf of the borrower, Robertson Properties Group, through New York Life Real Estate Investors. The loan carries an interest rate of less than 4 percent with a 30-year amortization schedule. Pearl City Gateway is fully leased to tenants including Babies R Us, TJ Maxx, Petco, McDonalds, AT&T, Domino’s and Subway.

September 8, 2016

Loans New Hampshire Northeast Office

NorthMarq Capital Secures $1.8M in Refinancing for Office Building in New Hampshire

by Amy Works September 8, 2016

NASHUA, N.H. — NorthMarq Capital has secured $1.8 million in refinancing for an office building in Nashua. Michael Chase of NorthMarq’s Boston office arranged the long-term financing through a regional bank for the undisclosed borrower. The two-story building features 33,000 square feet of office space.

September 8, 2016

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